01357 MEITU
- 2.470
- +0.040+1.65%
MEITU News
Meitu (01357.HK): Continuously promoting productivity and globalization, 1H24 performance is better than our expectations.
Meitu has released a positive profit forecast for the first half of 2024, with the adjusted net income attributable to shareholders increasing by more than 80% on a year-on-year basis. The company expects that the net income attributable to shareholders under IFRS in 1H24 will increase by no less than 30% compared to the same period last year (i.e. RMB
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Hang Seng Index fell by 306 points, Meituan dropped more than 5%, and resource and energy stocks were weak.
The USD/JPY exchange rate fell to the edge of 152, triggering a global stock market decline due to arbitrage trading and unwinding. As for the Hong Kong stock market, the Hang Seng Index opened low by 50 points and the decline expanded. It fell to 16,964 points after a drop of 346 points, and closed at 17,004 points, a decrease of 306 points or 1.8% for the whole day. The national index fell 125 points or 2.1%, closing at 6,016 points. The Hang Seng Tech Index fell 69 points or 2%, closing at 3,421 points. The total turnover of the market for the day was HKD 105.734 billion, with a net outflow of RMB 0.36 billion and 1.64 billion in the southbound trading under the Shanghai and Shenzhen-Hong Kong Stock Connect. The chip equipment manufacturer ASMPT (00522.HK) fell after its performance announcement yesterday.
Hong Kong stock market closing (07.25) | Hang Seng Index fell 1.77%, barely holding above 17,000 points. The market continues to be under pressure, while certain home appliances and photovoltaic stocks have risen.
Hong Kong stocks followed the downturn of the external market today, with all three major indices falling throughout the day and the decline widening in the afternoon. The Hang Seng Index fell below the 17,000 mark at one point during the day and is currently at a new three-month low.
Meitu Expects Higher Profits in H1 2024
CICC: Maintain a "outperform" rating on Meitu (01357), with a target price lowered to HKD 3.2.
CICC raised Meitu's revenue for 2024 and 2025 by 3% to RMB 3.71 billion/4.7 billion.
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Meitu (01357.HK): AI application and overseas expansion boosted the increase in paid conversion rate, showing excellent performance.
On the evening of July 24, 2024, Meitu announced its earnings forecast, with the company expecting a year-on-year growth rate of no less than 80% in adjusted net income attributable to shareholders for the first half of 2024 and a year-on-year increase in net income attributable to shareholders.
Hong Kong stock market mid-day review: Hang Seng Index fell by 1.42%, recording 3 consecutive declines. Technology and financial stocks and other weights fell across the board. Photovoltaic stocks bucked the trend and rose.
The three major indexes continue to decline, all recording three consecutive falls.
Daily digital currency update (2024-07-25)
jd.com will issue a stablecoin pegged to Hong Kong Dollar at a 1:1 ratio.
Meitu's net profit for the first half of the year is expected to significantly increase, and the stock price rose more than 10% at one point during the trading day.
Why did Meitu's net profit expectations increase significantly in the first half of the year? How do institutions evaluate this company?
Hong Kong stocks anomaly | Meitu rose 9%, expected to increase adjusted net profit by over 80% year-on-year in the first half of the year.
As of press release after Meitu's earnings call, the stock rose 9.29% to HK$2.47 with a turnover of HK$92.2078 million.
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